Japanese yen falls after BoJ Gov Kuroda's warnings

The Japanese yen fell against the US dollar on Wednesday, following Bank of Japan Governor Kuroda's warnings.

Kuroda commented on the monetary policy today, and warned that uncertainty about the Japanese economic remained very high.

The bank governor stated that the global economy is facing massive challenges due to the coronavirus crisis, in addition to other hurdles, such as the climate change.

 

However, Kuroda stressed that the world’s third-largest economy after the US and China is likely headed for a moderate recovery.

 

He stressed that the Bank of Japan "won’t hesitate to take additional easing steps as needed" to ease corporate funding restrictions and to provide support to the economy from this health crisis.

 

"We will closely monitor the pandemic’s impact on the Japanese economy and markets" Kuroda added.

 

As of 21:20 GMT, USD/JPY rose 0.3% to 105.9, after hitting a high of 106.1 and a low of 105.6.


Attached Files:

Posted By laraparker : 08 October, 2020
Related Article

USD/JPY tilted higher in Asian trade off October 5 lows following earlier data from Japan and ahead of US data.    As of 06:54 GMT, USD/JPY rose 0.06% to 105.39, with an intraday high at 105.45.    Earlier Japanese data showed the M2 monet supply index up 9% in September, accelerating from 8.6%, while Bank of Japan Governor Haruhiko Kuroda said earlier the BoJ is still considering its involvement in climate change issues and their impact on business.    From the US, consumer prices are expected up 0.2% in September, slowing down from 0.4%, while core prices are expected up 0.2%.    On a yearly basis, consumer prices are expected up 1.4% in September, while core prices are expected up 1.8%.

USD/JPY tilted higher in Asian trade off September 23 lows following earlier data from Japan and a speech by BoJ Governor Haruhiko Kuroda, and ahead of US data today.    As of 06:50 GMT, USD/JPY rose 0.10% to 105.74, with an intraday high at 105.76.    Earlier Japanese data showed the leading index rose to 88.8 in August from 86.7 in July.     From the US, Federal Reserve Bank of New York President John Williams will speak about flexible average inflation targeting at an online event hosted by the Hoover Economic Policy Working Group.   Federal Reserve Bank of Minneapolis President Neel Kashkari is due to speak about racism and the economy at a virtual event series.   The Fed will release minutes of its September meeting, at which policymakers maintained rates at near zero, while releasing three-year estimates for inflation, unemployment, ans growth.

USD/JPY tilted higher in Asian trade off October 2 lows amid a lack of data from Japan and ahead of US data and Fed speeches today.    As of 06:50 GMT, USD/JPY rose 0.09% to 105.53, with the highest since October 13 at 105.62.    From the US, building permits are expected up to 1.52 million units in September, while Housing Starts are expected up to 1.45 million units.    New York Fed Governor John Williams will talk today in a series of web seminars, with similar speeches other Fed officials on financial stability.    Democrats and Republicans remain in a tug of war over Covid relief, with the World Health Organization reporting 39.95 million global coronavirus cases so far, with the death toll standing at 1.11 million.


Post your comment